Company Registration No. 02814889 (England and Wales)
City and Commercial Ltd
Unaudited accounts
for the year ended 31 May 2023
City and Commercial Ltd
Unaudited accounts
Contents
City and Commercial Ltd
Company Information
for the year ended 31 May 2023
Directors
Simon Shaw
Mohammed Niraz Buhari
Neil Dixon
Kumar Chetan Mankar
Company Number
02814889 (England and Wales)
Registered Office
ASHLEY COURT 32 MAIN STREET
ASHLEY
MARKET HARBOROUGH
LEICESTERSHIRE
LE16 8HF
UNITED KINGDOM
Accountants
Master Accounting Limited
The Stables, Ashley Court
32 Main Street, Ashley
Market Harborough
Leicestershire
LE16 8HF
City and Commercial Ltd
Statement of financial position
as at 31 May 2023
Intangible assets
2,656,673
3,160,741
Tangible assets
7,545
4,607
Investments
1,790,353
1,778,353
Debtors
3,118,022
2,603,631
Cash at bank and in hand
200,448
611,493
Creditors: amounts falling due within one year
(1,654,000)
(1,409,434)
Net current assets
1,664,470
1,805,690
Total assets less current liabilities
6,119,041
6,749,391
Creditors: amounts falling due after more than one year
(3,102,021)
(3,249,812)
Net assets
3,017,020
3,499,579
Called up share capital
20,000
20,000
Revaluation reserve
2,656,673
3,160,741
Profit and loss account
340,347
318,838
Shareholders' funds
3,017,020
3,499,579
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 July 2023 and were signed on its behalf by
Mohammed Niraz Buhari
Director
Company Registration No. 02814889
City and Commercial Ltd
Notes to the Accounts
for the year ended 31 May 2023
City and Commercial Ltd is a private company, limited by shares, registered in England and Wales, registration number 02814889. The registered office is ASHLEY COURT 32 MAIN STREET, ASHLEY, MARKET HARBOROUGH, LEICESTERSHIRE, LE16 8HF, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These accounts are amended accounts and replace the original accounts already submitted and are now the company's statutory accounts. They are prepared as they were at the date of the original accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% - straight line
Fixtures & fittings
20% - straight line
Computer equipment
33% - straight line
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Expenditure on research and development is written off in the year in which it is incurred.
City and Commercial Ltd
Notes to the Accounts
for the year ended 31 May 2023
4
Intangible fixed assets
Other
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2022
-
87,920
63,174
151,094
Additions
2,000
3,188
-
5,188
At 31 May 2023
2,000
91,108
63,174
156,282
At 1 June 2022
-
83,313
63,174
146,487
Charge for the year
-
2,250
-
2,250
At 31 May 2023
-
85,563
63,174
148,737
At 31 May 2023
2,000
5,545
-
7,545
At 31 May 2022
-
4,607
-
4,607
6
Investments
Other investments
Valuation at 1 June 2022
1,778,353
Valuation at 31 May 2023
1,790,353
Amounts falling due within one year
Trade debtors
268,189
252,876
Accrued income and prepayments
6,902
6,902
Other debtors
2,827,549
2,331,355
City and Commercial Ltd
Notes to the Accounts
for the year ended 31 May 2023
8
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
37,472
11,296
Trade creditors
795,435
1,077,524
Taxes and social security
20,165
40,640
Other creditors
800,928
279,974
9
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
3,102,021
3,240,681
Allotted, called up and fully paid:
20,000 Ordinary shares of £1 each
20,000
20,000
11
Average number of employees
During the year the average number of employees was 8 (2022: 8).